Live Nation Entertainment (NYSE:LYV – Get Rating) is scheduled to release its quarterly earnings data after the market close on Thursday, November 3rd. Analysts expect the company to report earnings of $1.09 per share for the quarter. Those interested in the Company’s earnings conference call can do so through this link.
Live Nation Entertainment (NYSE:LYV – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.66 per share for the quarter, beating analysts’ consensus estimate of $0.53 by $0.13. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $3.92 billion. Live Nation Entertainment’s quarterly revenue increased 669.9% year over year. For the same period last year, the company earned ($0.90) EPS. On average, analysts expect Live Nation Entertainment to report fiscal year-to-date EPS of $1 and next fiscal year EPS.
Live Nation Entertainment down 4.0%
Shares of LYV opened at $78.47 on Thursday. The stock has a market cap of $18.05 billion, a P/E of -156.94 and a beta of 1.34. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt to equity ratio of 146.87. The company has a 50-day simple moving average of $84.89 and a 200-day simple moving average of $90.36. Live Nation Entertainment has a 12-month low of $73.35 and a 12-month high of $127.75.
Insider activity at Live Nation Entertainment
In other news from Live Nation Entertainment, director Jeffrey T. Hinson sold 500 shares of the stock in a transaction that took place on Tuesday, August 16th. The shares sold at an average price of $99.42 for a total value of $49,710.00. Following the transaction, the Director now directly owns 60,531 shares of the Company, valued at $6,017,992.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, CEO Michael Rapino sold 78,000 shares of the company’s stock in a transaction that took place on Thursday, September 15th. The shares were sold at an average price of $92.66 for a total transaction of $7,227,480.00. Following the transaction, the Chief Executive Officer now directly owns 3,711,273 shares of the Company, valued at $343,886,556.18. The sale was disclosed in a legal filing with the SEC, available at this hyperlink. In addition, Director Jeffrey T. Hinson sold 500 shares of the company in a transaction that took place on Tuesday, August 16th. The stock sold at an average price of $99.42 for a total transaction of $49,710.00. Following the transaction, the Director now owns 60,531 shares of the Company, valued at $6,017,992.02. The disclosure for this sale can be found here. Insiders have sold a total of 312,500 shares of the company’s shares worth $26,690,610 over the past 90 days. 4.01% of the shares are owned by company insiders.
Hedge funds make their mark on Live Nation Entertainment
A number of hedge funds and other institutional investors have recently bought and sold shares in LYV. Goldman Sachs Group Inc. increased its position in Live Nation Entertainment by 96.9% in the first quarter. Goldman Sachs Group Inc. now owns 3,698,063 shares of the company’s stock valued at $435,041,000 after purchasing an additional 1,819,841 shares last quarter. Vanguard Group Inc. increased its position in Live Nation Entertainment by 2.1% in the first quarter. Vanguard Group Inc. now owns 15,499,116 shares of the company’s stock valued at $1,823,315,000 after purchasing an additional 317,335 shares last quarter. Neuberger Berman Group LLC increased its position in Live Nation Entertainment by 839.1% in the first quarter. Neuberger Berman Group LLC now owns 316,141 shares of the company’s stock valued at $37,192,000 after purchasing an additional 282,478 shares last quarter. First Trust Advisors LP increased its position in Live Nation Entertainment by 245.7% in the first quarter. First Trust Advisors LP now owns 303,751 shares of the company’s stock valued at $35,733,000 after purchasing an additional 215,883 shares last quarter. Finally, Sculptor Capital LP acquired a new interest in Live Nation Entertainment valued at $23,162,000 during the first quarter. 71.08% of the shares are currently owned by hedge funds and other institutional investors.
Wall Street analyst ponders
Several equity analysts recently commented on the company. StockNews.com upgraded Live Nation Entertainment from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Benchmark raised its target price on Live Nation Entertainment shares to $140.00 in a report on Monday, August 15. Macquarie upgraded shares of Live Nation Entertainment from a “neutral” rating to a “outperform” rating in a report Tuesday, July 5, and lowered its price target on the stock to $105.00 from $117.00 . Citigroup increased its target price on Live Nation Entertainment shares to $100.00 from $93.00 and gave the stock a “neutral” rating in a report Monday, August 8. Finally, Guggenheim lowered its price target on Live Nation Entertainment shares to $120.00 from $140.00 and gave the company a buy rating in a report on Friday, October 7th. Two equities research analysts have rated the stock with a hold rating and eleven have rated the company’s stock with a buy. Based on data from MarketBeat, Live Nation Entertainment currently has a consensus rating of Moderate Buy and an average target price of $117.64.
About Live Nation Entertainment
Live Nation Entertainment, Inc operates as a live entertainment company. It operates through the concerts, ticketing, and sponsorship and advertising segments. The Concerts segment promotes live music events in owned or operated venues as well as in rented third-party venues; operates and manages music venues; produces music festivals; creates related content; and provides artists with management and other services.
This instant news alert was generated by MarketBeat’s narrative science technology and financial data to provide readers with the fastest, most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Live Nation Entertainment, here’s what you should hear.
MarketBeat tracks Wall Street’s best-in-class, top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are softly whispering to their clients to buy now, before the broader market takes hold… and Live Nation Entertainment wasn’t on the list.
While Live Nation Entertainment is currently rated a “Moderate Buy” by analysts, top analysts believe these five stocks are better buys.
Check out the five stocks here